Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

12 Responses to “10 Wednesday PM Reads”

re Tech boom – I checked out Paul Graham’s YCNYC – was a Woodstock for startups, like 800 people, and you had to submit a bit of info in advance to get an invite. ‘The Social Network’ and the financial crisis have made startups cool again. Also there’s a lot of disruptive tech getting absorbed.

There’s more NY competition for what YC is doing – check out for instance Techstars – http://www.bloomberg.com/tv/shows/techstars/ – and Paul Graham was basically saying hey, there are still some good reasons why NY startups might want to go through his California incubator for a few months – better weather, strong startup culture.

Of course a shakeout is inevitable, and of course the whole NY vs. CA smack talk is kind of pointless for people who are building real businesses, but it’s an angle that gets page views.

Seth MacFarlane’s talent is beyond words. During episodes of Family Guy dealing with incest, bestiality and pedophilia we are treated to such great numbers as ‘Prom Night Dumpster Baby’ and ‘Bag o’ Weed’. How the guy makes pedophilia funny is one of the great mysteries of life. Its like you want to vomit and laugh at the same time. That takes skill. And like the family dog Brian, I have a tremendous crush on Lois. Who wouldn’t? Its my guilty pleasure.

I posted this on the AM reads, my reply email from Attorney General Schneiderman.

Dear Friend,
Thank you for recently contacting my office regarding the latest developments in the 50-state national settlement of the mortgage probe.
As your Attorney General, I am deeply committed to pursuing a full investigation into the misconduct that led to the collapse of America’s housing market, and to seeking a resolution that gives homeowners meaningful relief, allows the housing market to begin to recover, and gets our economy moving again. Too many of New York’s families have suffered for my office to sign onto an inadequate settlement that gives banks and others broad release from further legal action. As your Attorney General, I pursue cases and settlements based on facts, so any agreement must not prevent those investigating the mortgage crisis from following the facts wherever they lead.
Again, thank you for contacting my office. Please continue to stay engaged on this issue by contacting my Albany offices at (518) 474-7330, or by sending your comments to me on my website. You may also follow me on Twitter or Facebook.

Sincerely,
Eric T. Schneiderman
Attorney General

It’s just good to know that someone is out there fighting the good fight.

FYI, I thought the best English language coverage of Kindle Fire was at the Guardian, which makes sense because that media organization has long aimed at mobile devices. I think they actually out-reported WSJ in several respects, so offer these links:

“That is the main reason I speak,” he told the Telegraph. “That is the reason I agreed to go on the BBC. Trading is a like a hobby. It is not a business. I am a talker. I talk a lot. I love the whole idea of public speaking.””

…[Wire Creator David] Simon feels we’re headed for separate Americas, where the “haves” exploit the “have-nots,” and where human beings will lose their value. He faults “raw, unencumbered Capitalism” for making our country numb to the plight of the most vulnerable among us. America makes the wrong choices every time, he says, and unless we change, Simon predicts “we are doomed.”

One thing that I never hear mention in terms of college education is about the specialization that happens. I graduated with a Civil Engineering degree 12 years ago, which is one of the lower paid engineering degrees out there and it gets hit pretty hard in these recessions that impact construction so much. I am already in my second recession of my career, and this one has been really damaging financially, let alone to my psyche and happiness at work. Yet, what am I supposed to do? Construction looks like it will be severely depressed for a long time, and my skills don’t really transfer to any of the other engineering disciplines. I could go back to school, but with three kids at home that is a hard idea to fathom how to make that work, let alone the debt required to get another degree.

People get sold on the idea that we will send all of the jobs nobody wants to do to China, and the Americans will all go to college to do the sexy jobs of the future. The problem with that idea is that the sexy jobs of the future aren’t coming quick enough.

They say we could just retrain our workers, but that doesn’t work when retraining takes multiple years due to the college education requirements for any job worth having. And once you get that high paying job that the specialization earned you, it makes it exceedingly difficult to change course on your career. In the end, it seems that our choice to require very expensive debt inducing college education has made an ultra-specialized, less dynamic workforce that is prone to shocks like the present one.

@river
I am sorry to hear of your problems. I know that in the recession of the late 80′s civil engineers were going offshore working for Aramco in Saudi, in Libya etc. It sucks to leave your family for months at a time but I know friends of mine who are still working on contracts offshore 20 years later so it may have benefits.

Moving to where the jobs are (for example the tar sands in Canada) might be another option although the housing crisis may make that more difficult.

I spoke a little too soon yesterday and chose not to order the Amazon Kindle Fire just yet. I decided to wait for early reviews. I think it’s going to be amazing, but I want to wait a couple of weeks for review models to be evaluated. It will be an Xmas present instead. I’ve been on the hunt for a decent tablet, but $400+ seems a little high for an extra computer that I probably won’t use much. There are decent Android 2.2 models available for less but I prefer to go with something new. The screen technology on the Kindle Fire is top shelf, I don’t need or want a camera, it has usb access, the low weight is fantastic, the price is the deal clincher. I don’t think the 8 hour battery life will be a negative. 7 inches for a screen is a little iffy, but at worst, it will only be a super kindle, which isn’t a bad compromise.

I always thought BAC would have to dump Countrywide into BK but with this 50B lawsuit about the merrill acquisition lies I think the entire bank is headed for dissolution, they have enormous problems on every front. Uncle Warren may have led with his chin altough he is way better protected than the common shareholders. Although Warren obviously gets insider info what good is it when BAC management sews nonstop lies?

river I hear ya .. you should have been a lawyer – get the license – spend a lifetime convince’g J6Ps your client is the good guy, keep your nose clean, smoosh the right people on the side – when the public record gets a little dicey – move or pick better cases

how about this: Business try train’g your employees from a base education platform and keep them .. rivers story is how the establishment is in cahoots* at all levels to milk the labor force .. AND ITS NOT WORKING

I feel so sorry for the kids attempting to get the degree, the right stuff degree in a world where so many secrets of how it all connects is a trade secret – loose lips sink ships and kill corporate profits

*coda – I like to use this as a cahoots .. VCs contract to build a motel/hotel – instead of hiring locals / hire travelers – they will backfeed the system staying** at the other place in town*** that is beings TIFd out of existance when the new doubledecker is finished
** eating at our 37% investment in McDs
*** winning (got them shorted)

Say Hello

About Barry Ritholtz

Ritholtz has been observing capital markets with a critical eye for 20 years. With a background in math & sciences and a law school degree, he is not your typical Wall St. persona. He left Law for Finance, working as a trader, researcher and strategist before graduating to asset managementRead More...

Quote of the Day

"Money is a terrible master but an excellent servant." –P.T. Barnum

Sign Up For My Newsletter

Get subscriber only insights and news delivered by Barry every two weeks.